COSIMO Ventures, an investment firm focused on deep technology companies, today announced a commitment of USD 3 million in seed funding for UK-based Oneiro, a blockchain and cryptocurrency developer.
COSIMO’s strategy is to address governance and infrastructure issues that it believes contribute to volatility in the use and management of digital currencies worldwide, according to the company’s statement. Oneiro is developing technology to enable decentralized, secure and dependable cryptocurrency. COSIMO has offices in Boston and Dublin and Oneiro is establishing its operating headquarters in the American city and will have part of its core technology development team based in the Irish capital. This trans-Atlantic siting is in keeping with COSIMO Ventures’ strategy of supporting collaboration and new-company growth between UK/Ireland and the US, says the statement.
“We believe that Oneiro will bring the potential of the cryptocurrency market into a completely new realm, as the acceptance and use of digital currencies becomes more mainstream,” said Ciaran Hynes, Managing Partner at COSIMO Ventures, in a statement. “We are impressed by the experience and forward thinking of the team at Oneiro. This is one of the most exciting projects we’ve seen, and we’re pleased to support them as part of COSIMO’s investment strategy to offer unique technology solutions for the commercial markets.”
COSIMO also states that it is committed to partnering with promising early stage deep technology companies in the blockchain and cryptocurrencies sectors, as well as in the artificial intelligence, Internet of Things (IoT), virtual reality, augmented reality, and big data industries.
This is the second investment COSIMO has made in the blockchain and cryptocurrency sectors within the last month. The first was in GECKO Governance, a blockchain solution for financial services and regulatory compliance.
- Wanchain CEO Jack Lu: Why 2.0 is a Milestone for the Entire Blockchain Industry - July 23, 2018
- Hit the Road, Jack. Wanchain 2.0 and WanLabs Kick Off European Tour - July 20, 2018
- Peter Gabriel Backs British Blockchain Startup Provenance - July 18, 2018
- Bitfinex CEO Hits Back at Fraud Expert’s Study Linking Tether to Crypto Price Manipulation - June 13, 2018
- Pundi X Moves Into Europe - June 5, 2018
- Dying for Crypto: The Ultimate ICO Publicity Stunt? - May 25, 2018
- Blockchain City Dubai Hosts Showstopping Summit, Unveils Registry to Expedite Business - May 8, 2018
- Crypto Tax: Victory for Tokenized Protest & Calls for Worldwide Reform - April 26, 2018
- Taking the Temperature at London’s Blockchain Expo 2018 - April 24, 2018
- Death Knell for Crypto in Poland? Poles Mobilze to Protest Crippling Tax Law - April 11, 2018
- Taiwan’s NOWnews Announces Plan to Launch Blockchain-Based Media Platform - April 3, 2018
- Study on 100 ICOs Identifies Social Reach, No. Of Advisors and a Raise of $10M as Key Factors for Success - April 2, 2018
- Exchange Group TMX Issues Guidance to Crypto and Blockchain Issuers - March 30, 2018
- DeepMind’s AI Pioneers Launch Fetch.ai – the World’s First Smart Ledger - March 29, 2018
- Kleros Joins Forces with Dether to Launch Decentralized Arbitration for Cryptocurrency Traders - March 26, 2018
- Future Crypto: 7 Clean Sneaks Past China’s ICO Ban - March 26, 2018
- Proxeus & Mount10 Partner to Provide Military-Grade Storage Security - March 22, 2018
- Playboy Pounces on Blockchain, Plans Crypto Wallet - March 14, 2018
- Crypto Leaders Speak out as US Regulatory Uncertainty Around ICOs Continues - March 9, 2018
- EU Proposes Pan-European Licensing Plan for ICOs - March 8, 2018